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Heading South

AUDUSD TECHS
  • RES 4: 0.6916 High Sep 13 and a key resistance
  • RES 3: 0.6851 50-day EMA
  • RES 2: 0.6747/66 High Sep 20 / 20-day EMA
  • RES 1: 0.6682 Low Jul 14 and a recent breakout level
  • PRICE: 0.6619 @ 06:51 BST Sep 23
  • SUP 1: 0.6574 Low Sep 22
  • SUP 2: 0.6568 Low May 27 2020
  • SUP 3: 0.6538 Low May 26 2020
  • SUP 4: 0.6464 61.8% retracement of the 2020 - 2021 bull leg

AUDUSD resumed its downtrend this week - the pair has cleared support at 0.6682, the Jul 14 low and bear trigger. The break strengthens bearish conditions and maintains the broader bearish price sequence of lower lows and lower highs. This has opened 0.6538 next, the May 26 2020 low ahead of 0.6464, a Fibonacci retracement. Initial firm resistance has been defined at 0.6747, the Sep 20 high.

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  • RES 4: 0.6916 High Sep 13 and a key resistance
  • RES 3: 0.6851 50-day EMA
  • RES 2: 0.6747/66 High Sep 20 / 20-day EMA
  • RES 1: 0.6682 Low Jul 14 and a recent breakout level
  • PRICE: 0.6619 @ 06:51 BST Sep 23
  • SUP 1: 0.6574 Low Sep 22
  • SUP 2: 0.6568 Low May 27 2020
  • SUP 3: 0.6538 Low May 26 2020
  • SUP 4: 0.6464 61.8% retracement of the 2020 - 2021 bull leg

AUDUSD resumed its downtrend this week - the pair has cleared support at 0.6682, the Jul 14 low and bear trigger. The break strengthens bearish conditions and maintains the broader bearish price sequence of lower lows and lower highs. This has opened 0.6538 next, the May 26 2020 low ahead of 0.6464, a Fibonacci retracement. Initial firm resistance has been defined at 0.6747, the Sep 20 high.